Yahoo! riddled with lawsuits after huge data breach

The California technology company Yahoo! is facing 23 lawsuits months after they announced the data of millions of users was illegally accessed in late 2014, an article of Business Insider reported on November 9.

Reports say the data breach, which was revealed last September, is expected to affect the financial status of Yahoo! in the future after dozens of lawsuits were filed against them. The Sunnyvale-based search engine giant provided the SEC with more information regarding the data breach, which affected 500 million accounts. In a statement, Yahoo! said the issue is currently under investigation and they are working with various federal agencies regarding the matter. The 23 plaintiffs who are seeking a class action status was also confirmed by the company. Though the massive data breach could result in fewer people using Yahoo! products, CEO Marissa Mayer expressed her happiness for existing users who are loyal to the company.

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